U S Mono-Ethylene Glycol Market Size, Share Analysis and Forecast Report 2023-2030

Report Overview 

U S Mono-Ethylene Glycol Market is expected to reach a CAGR of 4.0% during the forecast period (2023-2030). 

The chemical formula for mono-ethylene glycol (MEG) is C2H6O2. MEG is a transparent, colorless liquid with a slight viscosity, a sweet flavor, and almost no odor. It holds significant importance in various industries, serving as a versatile component in the synthesis of polyester fibers and playing a crucial role in the formulation of antifreeze, coolants, aircraft anti-icers, and de-icers. One of its notable characteristics is its miscibility with water, alcohol, and many other organic compounds. 

MEG is a key ingredient in the production of polyethylene terephthalate (PET) resins, polyester fibers, films, and engine coolants. Its applications extend to a wide range of products, including garments and fabrics, packaging materials, kitchenware, and engine coolants and antifreeze. Ethylene glycol, derived from MEG, is integral to the creation of polyester and fleece textiles, furniture, carpets, pillows, as well as lightweight and durable PET containers used for drinks and food. 

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Market Dynamics 

The substantial demand for mono-ethylene glycol (MEG) is closely linked to its crucial role as a primary raw material in the production of polyethylene terephthalate (PET) resin. PET, a durable and hydrophobic polymer, is highly sought after in various industries due to its desirable properties, including recyclability, energy conservation, and cost-efficiency. PET is particularly prevalent in the production of packaging products such as shopping bags, plastic bottles, and packaging films. These applications are directly associated with the booming packaging and food & beverage industries, which are among the fastest-growing billion-dollar sectors in the United States. 

Despite challenges such as winter storms affecting manufacturing plants in Texas, the demand for PET has shown a consistent increase. Limited supplies and strong demand from packaging, container, and bottle producers have led to a significant surge in PET prices. For example, Ohio and Texas experienced price increases of 5.46% and 5.38%, respectively, reaching USD 1410 per metric ton and USD 1565 per metric ton. 

To capitalize on the imbalance in PET supply and demand, PET manufacturers are expected to ramp up production substantially. This increase in PET production, in turn, drives the consumption of mono-ethylene glycol, as it is a key raw material for PET manufacturing. Therefore, the extensive and exhaustive demand for PET emerges as a significant driver for the U.S. mono-ethylene glycol market. 

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Market Segmentation 

By Production Process 

• Gas-based 
• Naphtha-based 
• Coal-based 
• Methane-to-Olefins (MTO) 
• Bio-based 

By Application 

• Polyester Fiber 
• PET Bottle 
• PET Film 
• Antifreeze 
• Industrial 
• Others 

By End-User 

• Textile 
• Packaging 
• Plastic 
• Automotive 
• Healthcare 
• Oil & Gas 
• Others 

Market Key Players 

Major players are Exxon Mobil Corporation, BASF SE, MEGlobal, LyondellBasell Industries Holdings B.V., Dow, SABIC, NAN YA PLASTICS CORPORATION, Shell, Reliance Industries Limited, LOTTE Chemical Corporation, Indorama Ventures Public Company Limited, Eastman Chemical Company and Sasol. 

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